Eighth Point Solutions

Property Management Workflow

1

Setup

  • Property is inspected, documented, and entered into the system.
  • Vendors (cleaning, landscaping, maintenance) are onboarded.

2

Move-In

  • Schedule final cleaning & walkthrough with vendors.
  • Confirm property is move-in ready.
  • Complete Move-In Checklist and hand over keys to tenant.


Move-In Checklist

General: Walls, ceilings, doors, locks, windows (all secure, no damage).
Floors: Carpets, vinyl, tile, wood (clean and undamaged).
Kitchen: Appliances working (stove, fridge, microwave, dishwasher), cabinets and counters clean.
Bathrooms: Toilets, sinks, showers, tubs functional and clean.
Electrical: Lights, outlets, switches working.
Plumbing: No leaks, faucets functional, hot water on.
HVAC: Heating and air conditioning operational.
Smoke/Carbon Monoxide Detectors: Installed and working.
Exterior: Yard, porch, garage, driveway in good condition.
Cleanliness: Property move-in ready (clean floors, surfaces, windows).
Keys: Tenant receives all necessary keys, access cards, or remotes.

*Tenant signs checklist acknowledging condition at move-in. Copy retained by management and tenant.*

3

Rent

  • Collect monthly rent.
  • Send late notices if rent is unpaid by due date.
  • Transfer funds to property owner with monthly financial statement.

4

Maintenance (Optional)

Only triggered when needed:

  • Tenant submits a Maintenance Request Form, or
  • Routine vendor service (landscaping, pest control, HVAC) is scheduled.


– 8PS reviews the request and assigns vendor.
– Vendor completes work, uploads proof and invoice.
– Owner approves cost (if outside covered items).

5

Reporting

Monthly report to owner includes:

  • Rent collected
  • Expenses paid (vendors, repairs if any)
  • Net income balance

6

Renewal/Move-Out

Renewal: Contact tenant 60 days before lease ends to confirm continuation.

Move-Out:

  • Schedule final cleaning & vendor walkthrough.
  • Inspect and document condition with photos.
  • Deduct damages from deposit if needed.
  • Restart Tenant Sourcing if property will be re-rented.

Standard Costs for Property Management

Standard Property Management Fees

1

Monthly Management Fee

  • Typically 8% – 12% of monthly rent collected.
  • Example: If rent is $2,000/month, management fee = $160–$240.
  • Some firms set a minimum flat fee (e.g., $100/month per unit).

2

Tenant Placement / Leasing Fee

  • Charged when finding a new tenant.
  • Usually 50% – 100% of one month’s rent.
  • Covers marketing, showings, background checks, and lease signing.

3

Lease Renewal Fee

  • Often $100 – $300 flat fee or 10% of one month’s rent.
  • Covers paperwork and negotiations for renewals.

4

Maintenance Coordination Fee (Optional)

  • Some companies add 5%–10% surcharge on vendor invoices.
  • Others include vendor coordination within the management fee.

5

Vacancy Fee (Less Common)

  • Some firms charge a small fee when a property is vacant to cover oversight.
  • Could be a flat monthly rate ($50–$100).

6

Setup/Onboarding Fee

  • One-time fee to onboard new properties.
  • Typically $250 – $500 depending on property complexity.

Luxury or Full-Service Property Management (like 8PS)

– For white-glove or investment-focused firms (vendor sourcing, property renovation oversight, project buildout), retainers or flat monthly service packages can go much higher.
– Typical range: $1,000+ per month or custom retainer packages (like the $20K/$25K structures).

Summary:

– Most traditional firms = 8–12% of rent + leasing fees.
– Higher-end / custom management firms (like 8PS) = flat retainers or tiered packages with additional services (vendor sourcing, buildouts, renovations).

Property Management Welcome Letter

Dear Client,

Welcome to Eighth Point Solutions! We are excited to partner with you in managing your property and ensuring your investment is handled with care, professionalism, and transparency.

Our role is to take the stress off your shoulders by overseeing tenant sourcing, rent collection, vendor coordination, and ongoing property upkeep. To begin this process smoothly, we will need some key details about your property.

Below you will find a checklist of items we require to set up your property management account. Once this checklist is completed, a custom proposal will be created for our services.

Property Information Checklist
Utilities & Service Responsibility Checklist

What You Can Expect From 8PS

– Professional tenant sourcing and screening (with option for Section 8).
– Final cleaning & move-in readiness walkthrough scheduled before occupancy.
– Monthly rent collection with timely owner statements.
– Optional maintenance coordination only when required.
– Monthly reporting of rent collected, expenses paid, and balances due.
– Lease renewal and move-out management, including inspections and tenant turnover.

We look forward to managing your property with excellence and providing you peace of mind. Once we receive your completed checklist and documents, we will begin onboarding your property into our system and schedule the next steps.

Thank you for trusting Eighth Point Solutions with your investment.

Sincerely,

Eighth Point Solutions – Property Management Team